Sterlite Copper is a subsidiary of Sterlite industries, a company owned by Vedanta Limited. It was originally incorporated as Rainbow Investments in 1975, the name of the company was changed to Sterlite Cables in 1976. It was later renamed Sterlite Industries in 1986. With a restructuring in July 2000, the company is left with only a metal division comprising copper and aluminium divisions. In 1994, it acquired Madras Aluminium Company (MALCO) for ₹55 crores. Sterlite and its associate companies took a 55% stake in India Foils for ₹50 crores. This improved Sterlite's product mix from aluminum metal to aluminum foil with the largest market share of 65%. In 1999, the company acquired Copper Mines of Tasmania. More information...
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